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Unit of study_

ECON6008: International Money and Finance

This unit covers the following topics: overview of the International Monetary System; foreign exchange markets, spot and future markets; swaps and options; arbitrage; covered and uncovered interest parity; exchange rate determination; forecasting exchange rate movements; exchange rate intervention; and the role of central banks.


Academic unit Economics
Unit code ECON6008
Unit name International Money and Finance
Session, year
Semester 2, 2020
Attendance mode Normal day
Location Camperdown/Darlington, Sydney
Credit points 6

Enrolment rules

Available to study abroad and exchange students


Teaching staff and contact details

Coordinator Denny Lie,
Type Description Weight Due Length
Assignment group assignment Quantitative project
Solving and analysing an economic model and producing a report.
35% STUVAC 1500-3000 words (6-12 pages)
Outcomes assessed: LO2 LO3 LO4
In-semester test (Record+) Type B in-semester exam In-class Mid-Semester Exam
Mid-Semester Exam
50% Week 07
Due date: 16 Oct 2020 at 18:00
50 minutes
Outcomes assessed: LO1 LO2 LO3 LO4
Assignment Online quizzes
MCQ (via Canvas)
15% Week 12 Unlimited
Outcomes assessed: LO1 LO2 LO3 LO4
group assignment = group assignment ?
Type B in-semester exam = Type B in-semester exam ?

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High distinction indicates work of an exceptional standard, a Distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range


High distinction

85 - 100



75 - 84



65 - 74



50 - 64



0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

WK Topic Learning activity Learning outcomes
Week 01 Introduction: national income accounting, balance of payment, exchange rates, and the foreign-exchange markets Seminar (3 hr)  
Week 02 Money, interest rates, and exchange rates Seminar (3 hr)  
Week 03 Price levels and exchange rates in the long run Seminar (3 hr)  
Week 04 Output and exchange rates in the short run, part 1 Seminar (3 hr)  
Week 05 Output and exchange rates in the short run, part 2 and fixed exchange rates Seminar (3 hr)  
Week 06 International monetary system, financial globalisation, and optimum currency area Seminar (3 hr)  
Week 07 Mid-Semester Exam (in class) Seminar (3 hr)  
Week 08 Introduction to quantitative analysis (QA) Seminar (3 hr)  
Week 09 MATLAB/Dynare session (tentative) Seminar (3 hr)  
Week 10 QA 1: a canonical closed-economy model Seminar (3 hr)  
Week 11 QA 2: a small open-economy model Seminar (3 hr)  
Week 12 Q&A session on QA project Seminar (3 hr)  

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
  • Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
  • Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit can be accessed on the Library eReserve link available on Canvas.

Textbook: Krugman, Paul, M. Obtsfeld, and M. Melitz, International Finance: Theory and Policy, Global Edition (Eleventh Edition, 11e). Pearson. ISBN 9781292238739

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University’s graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. understand the theoretical models that form the body of contemporary international macroeconomics
  • LO2. understand and apply international macroeconomic models to various economic problems and issues
  • LO3. understand the associated empirical implications and policy issues
  • LO4. apply quantitative analysis to various issues in international macroeconomics.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
No changes have been made since this unit was last offered


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